Primark to cut hundreds of jobs in store management shake-up

1/20/2022 12:45:00 PM

Primark is planning to cut hundreds of jobs in a shake-up of store management

Primark is planning to cut hundreds of jobs in a shake-up of store management

The fashion retailer, which said there were signs of sales improving after an Omicron hit, said it was aiming to 'simplify' its management structure.

The company said it faced a squeeze on its raw material and supply chain costs but said this had been mitigated by favourable currency exchange rates and a reduction in store operating costs and overheads.ABF said supply chain pressures experienced during the autumn had alleviated though it was still experiencing some delays at ports where goods were being shipped from, adding:"We expect longer shipping times to continue for some time."

Image:Primark sales remained 10% off pre-pandemic levelsFlagging the jobs cut plans, the company said:"We are proposing to simplify our in-store UK retail management structure as part of our ongoing programme to improve the efficiency of our store retail operations."

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ABF said supply chain pressures experienced during the autumn had alleviated though it was still experiencing some delays at ports where goods were being shipped from, adding:"We expect longer shipping times to continue for some time." Image: Primark sales remained 10% off pre-pandemic levels Flagging the jobs cut plans, the company said:"We are proposing to simplify our in-store UK retail management structure as part of our ongoing programme to improve the efficiency of our store retail operations." Kari Rodgers, Primark retail director for the UK, said:"The changes we're proposing will deliver a simplified and more consistent management structure across all of our stores, provide more opportunities for career progression and offer greater flexibility. The officers wish to remain anonymous because the EA’s chief executive, Sir James Bevan, has “been very clear that he will sack anybody that is seen to be openly criticising the agency”, one officer said. "We are now focused on supporting our colleagues who are affected by these proposed changes and will be going through the consultation process." Meanwhile, Primark - which unlike rivals does not have an online retail platform - was on track to launch a new customer-facing website in the UK by the end of March, the company said. All relevant monobob races were listed as “World Series” events, but those that coincided with World Cup weekends had far more points on offer than those that took place at Europe Cup or North American Cup stops.

It said the site"will showcase many more of our products and will provide customers with product availability by store".05bn over the past two years, and money for flood operations has steadily increased. The update - and Primark's confirmation that it does not plan to raise prices - comes as latest figures show across the wider clothing sector amid a cost of living surge. Rival Next has said it expects to hike prices by up to 6%. ABF signalled that prices may go up in other parts of its business - a sprawling conglomerate which also includes a major sugar operation and brands such as Ryvita, Twinings and Ovaltine. Last week the Guardian revealed that the agency would no longer respond to lower-impact pollution incidents. Laura Hoy, equity analyst at Hargreaves Lansdown, said:"Inflationary headwinds are an unavoidable storm cloud hanging over just about everyone right now, but we think ABF is well-placed to ride it out. Britain’s Mica McNeill barely competed in monobob this year but qualified for the Olympics based on her strong performance in two-woman races, including a World Cup runner-up finish in early January.

"The group's low-cost retail business will appeal to shoppers tightening the purse strings, and improved efficiency across all areas of the business together with price hikes in the grocery business look likely to offset the bulk of the pain for now. "But if costs continue to balloon, it could become a problem for Primark as the group has very little space to increase costs due to its position as a discount retailer. A second officer said increases in charges and other agency income filled the gap left by dwindling government grants but the money did not find its way to frontline work." .